Multiple choice

Excess value of net assets over purchase consideration at the time of purchase of business is credited to?

  1. General Reserve

  2. Capital Reserve

  3. Vendor's account

  4. Goodwill

  5. None of these

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Excess value of net assets over purchase consideration at the time of purchase of business is credited to capital reserve account.